Already this month a number of major high street lenders have raised their Standard Variable Rates (SVR). The crisis in the euro zone is driving up the cost of borrowing for mortgage lenders in this country, these increases will be passed onto their mortgage customers as they are intent on restoring their profit margins.

At the risk of this sounding like a marketing campaigne, I really do beleive time is running out for the many mortgage borrowers on SVR’s. Admittedly they have been enjoing record low rates for a considerable period of time, but all good things always come to an end. That end is now in sight and now is perhaps the time to secure a fixed rate. Like SVR’s fixed rates will also increase and surely it is better to secure a rate now to protect future mortgage payments. Many mortgage lenders are offering good fixed rates, many of these products have free valuations and free legal fee’s making a re-mortgage very inexpensive.

Finally, don’t fall into the trap of regretting that you should have had done this sooner. Act now before it is too late and secure a competive fixed rate to protect your future.

Telephone Westexe on: 01392 216344 or email us on: hello@westexe-mortgages.co.uk

Word on the street
Have you heard? For the past couple of weeks social media networks and the news press have been running hot with advisers talking about, and engaging with unbiased.co.uk. This is fantastic news, we keep an eagle eye on the press and social media forums and we listen to what you’re saying.
Talking about buzz, we have a guru in our midst. IFA Alistair Cunningham spoke to New Model Adviser this week, sharing his social media insight and top 12 tips for other advisers to get onboard. Alistair is so social, we wonder when he finds time to sleep, but we do like his style. The unbiased.co.uk website also hosts a number of social media and digital marketing ‘how to’ prompts to help you on your way. If you are keen to understand more, feel free to take advantage of our online marketing for your business guide, which we’re sure you’ll find handy or find out how we use social media. And we will have some exciting new services for you soon, so watch this space.

Easing the squeeze
Remember when buying a property was all about ‘location, location, location’? Right now it is ‘mortgage, mortgage, mortgage’. Mortgages are a hot topic at the moment with lenders setting tougher requirements and rates on the increase, so it’s no wonder consumers’ heads are spinning. Karen and a panel of expert professional advisers have gathered their recommendations and tips to help with the new landscape – how to navigate the changing mortgage market.

Our latest sponsor – NS&I
We are excited to announce that National Savings and Investments (NS&I) is the latest sponsor to join the unbiased.co.uk family. As one of the largest savings organisations in the UK, NS&I’s support demonstrates the value of seeking independent professional advice for long-term financial planning. Read all about it in FT Adviser.
The partnership is timely with the start of this year seeing a strong demand for professional advice on savings and investments. Our Advice Drivers reports found nearly one in four of the total number of enquiries (24%) was for an IFA specialising in this particular area in February and March. And data from NS&I shows that consumers have been taking savings action – its Savings Survey shows a rise in the amount savers are putting aside each month, with the average Brit now putting away £95, the highest amount recorded since spring 2011.

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The unbiased.co.uk team

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Louise Holmes, spokesperson for Moneyfacts.co.uk, commented:
At the peak of the mortgage crisis, the majority of lenders withdrew their high LTV mortgage products, leaving prospective homeowners high and dry with no hope of affording the large deposits required.

The rising cost of living and unemployment has also had a massive impact on prospective buyers ability to save for their first home. Demand for high LTV mortgages is, and always will, be high. Lenders have shown they recognise this by edging cautiously back into this area of the market with some competitive deals of late. However, strict underwriting
and credit checks mean that approvals are at a premium.

News of increased choice and lower rates in this sector of the mortgage market will be
music to the ears of potential borrowers, whose voices finally appear to have
been heard.

Last week 7 major lenders increased there standard variable rates (SVR) by 0.5% and according to Which mortgage holders are set to pay an additional £300m a year due to the SVR hike

Halifax borrowers, for example with a £150,000 or £200,000 mortgage will now pay an extra £480 or £680 a year respectively.

With many borrowers already concerned over the rising cost of living, now could be the perfect time to be proactive and source a new cheaper rate.

We offer advice on the lowest possible rates from the whole of the market and hope that you will wake up to the possibility of rising rates and secure a better deal whilst you still can.

Call us now on 01392 216 344  -  24/7

The number of buy to let remortgages has reached a new high for the year,
report Westexe Mortgage Solutions.

New figures from Exeter’s longest established mortgage brokers  show that the percentage of people looking to remortgage has risen to its highest level to date in 2012 as
landlords look to use the equity in their portfolio to help part fund the cost
of additional buy to let purchases.

What’s more, Westexe is seeing an increasing number of first time landlords looking to remortgage in order to have the capital to buy a new property whilst at the same time rent out their current property. Buy to let accounts for almost one in five mortgage applications
currently processed.

The latest figures show that experienced landlords are happy to continue to invest in
property by expanding their portfolios to meet the high tenant demand in many
areas of the country. It is also interesting that some home-buyers are using the
equity in their current properties to invest in buy to let for the first
time.

Whilst lending criteria understandably remains risk averse, there
are still many great opportunities for landlords to maximize their yields from
all sorts of property across the country, and my feeling is that our buy to let
lending will continue to grow during 2012.

In a speech to housebuilders, the Housing Minister argued that a generation of first time buyers and families with children are unable to do what their parents did and move homes as their needs grow.

A recent survey from Findaproperty.com found that almost a third of parents find their current home is too small to accommodate their family – rising to 40 per cent for younger families where the parents are aged between 18 and 34.

Government action to help the boxed in generation

Mr Shapps said that for the first time, these overlooked owners will now get the help they need to move from their current abode to a new address – through the NewBuy Guarantee – while also freeing up properties suitable for aspiring first time buyers.

The NewBuy Guarantee is not confined to first-time buyers but is designed to help anyone looking to buy a newly-built property – and is expected to help up to 100,000 prospective and current homeowners.

Through this innovative new scheme, instead of a typical buyer requiring a £40,000 deposit to buy a £200,000 home, they will now only need £10,000. The scheme – which had its first sale this week – is available for homes of up to £500,000.

Housing Minister Grant Shapps said:

“For years increasing numbers of people have outgrown their homes but been unable to move, and first-time buyers have been unable to buy.

“They know who they are. Hardworking people who bought their home when they were single, maybe met someone, fell in love and now have a couple of kids. They expected to trade up – because that’s what their parents were able to do. But now they’re boxed-in, home outgrown. Stuck in a flat, when really want they want is a family home.

“The NewBuy Guarantee will give our second-time buyers a second chance, as this is the first scheme of its kind not confined to first time buyers, but available to anyone looking to buy a newly-built home.

“We don’t want Britain to be a place of housing have nots, we want people to have room to grow. The NewBuy Guarantee will do just that.”

HomeBuilders Federation Executive Chairman Stewart Baseley said:

“Reducing the deposit needed for a new home to an affordable level is a fantastic opportunity for many people who have been for too long frustrated. It will also open up the market, creating work for house building companies large and small and boost the economy as a whole.”

A NewBuy Guarantee

Launched just six weeks ago, the NewBuy Guarantee is already starting to open up the market, with four lenders offering 95 per cent mortgages on new-build properties by up to nine leading housebuilders.

They are:

- Natwest, who offer 95 per cent Loan-to-Value mortgages at under five per cent interest on properties built by Barratt, Bellway, Bovis, Linden Homes, Persimmon, Redrow and Taylor Wimpey;

- Barclays, who offer 95 per cent Loan-to-Value mortgages on properties built by Barratt, Bellway, Bovis, Persimmon, Redrow and Taylor Wimpey;

- Nationwide, who offer 95 per cent Loan-to-Value mortgages on properties built by Barratt, Bovis, Bellway, Persimmon, Redrow and Taylor Wimpey;

- Halifax, who offer 95 per cent Loan-to-Value mortgages on properties built by Barratt, Bellway, Bovis, Crest Nicholson, Cala Homes, Linden Homes, Persimmon, Redrow Homes, and Taylor Wimpey

And over the next few weeks a number of other major lenders are expected to join the NewBuy Guarantee, working with a wide range of builders.

Positive signals have emerged for the housing market in the first quarter of
2012 with a rise in the number of British homeowners who expect house prices to
climb over the next six months.
According to the latest Zoopla.co.uk Housing Market Sentiment Survey, two out
of three (67%) British homeowners are confident of house prices rising by the
Autumn. This is the highest proportion of homeowners predicting property price
growth since the first half of 2010 and in stark contrast to sentiment at the
end of 2011 when only 55% of owners were predicting prices to climb.

In addition to the rise in overall confidence, homeowners are also more bullish now
about how much they expect average house prices to rise over the next six
months. At the end of 2011, owners expected prices in their local area to
increase 2.2% on average. Over the last quarter this has risen to 3.9% – again,
the highest price growth expectation in almost two years.

Confidence amongst homeowners in London is at a near all-time high with 82% of property owners in the capital now confident of property price rises over the next six
months. And owners in the capital are predicting that house prices in London
will grow 5.5% by October.

There has also been an improvement in sentiment towards mortgage financing with an increase in the number of property owners reporting that it is now easier to secure a mortgage than it was at the end of 2011. 17% of respondents believe mortgage availability has improved, up from 11% last quarter.

Nicholas
Leeming of Zoopla.co.uk commented:
The property market has been in need of some positive news of late as many indicators have pointed toward stagnant prices. These results show that homeowners now feel a lot more positive than at the end of last year and this confidence could bolster transaction and
activity levels as we move further into the year.

Louise Holmes, spokesperson at Moneyfacts.co.uk commented:

“Over the past couple of years we have seen the high LTV mortgage market stage something of a comeback, mainly due to high demand from borrowers with limited deposits.

“The first-time buyer market is often considered to be the life-blood of the housing market and mortgage lenders recognise this. Risk is still a major factor, however, and the majority of mortgages with high LTVs require the financial backing from a third party, such as a guarantor, as well as strict credit checks and lending criteria.

“These latest figures will be good news and a welcome relief to many borrowers who have struggled to find suitable mortgage deals within their financial capabilities.”

Wednesday, April 04, 2012

This is a fantastic offer using Westexe Mortgage Solutions and selected builders, 3 year fixed rate 5.89% and 5 year fixed rate 6.09%.

Apply now whilst stocks last.